REUTERS - EU SUMMIT - No Bazooka and No Statement

Euro zone leaders will not issue a statement after a summit on Sunday to discuss the debt crisis, several EU sources said on Sunday, a decision that is likely to further undermine financial market confidence in leaders' abilities to tackle the debt problem.

The sources said the 17 euro zone heads of state and government had not reached any conclusions on how best to recapitalise European banks, bolster the region's 440 billion euro rescue fund and make Greece's debts more sustainable, making a statement pointless.

Everything now rides on a deal being reached at another summit on Wednesday. Ahead of that summit, there will also be a gathering of all 27 EU leaders to again discuss the best steps to take on protecting the region from the fallout of a possible Greek debt default and wider economic contagion.